Medical Premium Revisions

Medical costs rise annually. Primarily due to an increase in service costs of healthcare providers as well as higher costs involved with the advancements in treatments available. This and the increased usage by policyholders increases the claims paid out by insurers. To ensure that we can continue to offer you a sustainable and comprehensive coverage, we review our medical plans and this may result in upward premium/insurance charges revisions.

Medical insurance operates on a risk sharing basis in which the combined insurance premiums/insurance charges for the pool of policyholders are collected and utilised for payment of claims. As such, revisions to the insurance premium/insurance charges will be applicable to all affected policyholders.

We take into account a number of factors, such as the claims experience of policies with similar characteristics (example – age, gender, product, etc.). We also take into account of medical cost trends.

The new premium rates/insurance charges will take effect from your next Policy Anniversary date falling on or after 1st June 2022.

Example 1: Policy Anniversary falls on 1 Dec 2021. The new premium rate/insurance charges will be effective from 1 Dec 2022.

Example 2: Policy Anniversary falls on 29 January 2022. The new premium rate/insurance charges will be effective from 29 January 2023.

For Standalone Medical Plan or policy with premium paying medical rider, your premium or medical rider premium will be revised with repriced rates. You will have to pay the revised premiums on the next policy anniversary to continue enjoying the policy benefits.

For an investment linked policy with medical unit deducting rider, the revised insurance charges will be deducted from your policy account value. If you do not change your premium or regular top-up premium, your policy may not be sustainable until policy expiry should there be insufficient account value to deduct charges. Hence, we strongly encourage you to top up your premium or increase your top-up amount as recommended in the notification letter to ensure your policy does not lapse early.

By paying the amount stated in the Investment-Linked Policy Sustainability Disclosure that is attached to your notification letter, your policy is expected to sustain until the end of the policy term. However, please bear in mind that your policy’s sustainability is impacted by investment returns and your own actions (such as account withdrawals or payment holidays). Please refer to the said disclosure for details. You are also advised to refer to the Sustainability Letter append to your Annual Statements in future for annual updates on the sustainability of your policy and the options that may be available.

There are no changes to your policy benefits.

If affordability is a concern, you have the following options:

a)    Temporarily switch to a lower priced plan and then revert to your original plan at the repriced rates (without further underwriting) within the permitted time. For further info on this option, please refer to the FAQs linked above.

b)    Permanently downgrade within your existing plan. Downgrading can be done without further underwriting.

c)    You may opt to include a deductible feature to your policy (if applicable) to lower your premium/insurance charges.

You should assess the benefits under these options to ensure the chosen plan is sufficient to cover your medical insurance needs. Kindly contact your servicing agent or MCIS Customer Service representative if you wish to know more about these or any other options available.

For those on PLAN150, you can switch to our alternate downgrade product that has a deductible feature. You will need to pay the first RM 3,000 out of any eligible medical expenses that is payable on your medical claims.

Kindly contact your servicing agent if you wish to know more about this or any other options available.

You may switch your current medical plan to a lower medical plan that suits your protection needs and affordability. However, we wish to remind you that any changes to your plan will have an impact on your coverage i.e. reduction in benefit amount. Kindly contact your Servicing agent or MCIS Customer Service representative for more information.

If your basic policy is under waiver status, but your medical rider premium/charge is not eligible to a waiver (depending on your policy terms and conditions), then you will need to pay the new medical rider premium.

For investment-linked policies with a medical premium paying rider that is under waiver status, the medical rider premium will be revised and the difference is not covered by the waiver rider. Therefore, you are still required to pay the difference in premium amount to continue to enjoy your insurance coverage

Please note that you need to refer to your policy terms and conditions to determine if medical premiums are covered by the waiver /payer benefit rider.

If your policy does cover medical premiums to be waived, and if the waiver/payer benefit has not been activated, then your waiver / payer sum assured will be revised to the proposed new premium.

Kindly contact your Servicing agent or MCIS Customer Service representative for more information.

Premium reviews are a commercial decision undertaken by the company. We perform regular reviews on our medical portfolio to ensure policyholders enjoy uninterrupted coverage for their medical needs. Should there be any other revisions in future, we will notify policyholders accordingly.

The premium is based on a few factors such as your current occupation, health and age, which may be different when you originally took up the policy. It also differs by the benefits offered under the new plan.

Yes, it is possible. However, there are other options for you to consider.

You can still maintain the medical card and downgrade the room & board allowance to a lower amount. This will allow a lower premium at a reduced coverage amount.

If you discontinue your existing coverage, you may bear the following consequences:

a)    No medical coverage – you will lose out on the coverage and the benefits that are provided under the existing plan.

b)    Go through the buying process again – if you choose to discontinue the existing coverage and later decide to purchase the policy again, you will be required to undergo the full process once applicable to new policies. This includes a new medical examination and having a new waiting period apply to your policy. Moreover, the rates that apply may be different to the current rates. You should therefore carefully assess if discontinuing your coverage is suitable for you or consider other available options (refer to Question 8).

You will be required to pay all outstanding premiums with all interest accrued including the new premium, along with the Health Declaration Form for processing in order to continue enjoying coverage. Please submit the duly completed Health Declaration Form to medicalplans@mcis.my

​ We offer you several convenient payment methods as follows:

• If you have a Maybank or Bank Simpanan Nasional account, we can facilitate an automatic deduction from your bank account. You may send us the following details via e-mail to medicalplans@mcis.my and we will arrange for the automatic deduction.

          Name of account holder
          Account number
          Bank or Branch number

• If you want to use your Credit Card, please complete the Credit Card Deduction form and send to medicalplans@mcis.my.

You may contact your servicing agent for any enquiries or our Customer Contact Centre at +603 7652 3388 or e-mail us at medicalplans@mcis.my

Complaints should preferably be made in writing and delivered to us by hand, post, or email. Attention the complaint to:
Complaints Officer, Complaints Unit,
Tower 1, Level 2, Wisma MCIS,
Jalan Barat, 46200 Petaling Jaya,
Selangor Darul Ehsan
Tel: 03 7652 3388 (General Line) Ext 3579
03 7652 3579 (Direct Line)
E-mail: info@mcis.my